Fundraising Fox
HG Ventures
Corporate VCIndianapolis · Pre-Seed–Growth · 12 people tracked
Find your way into HG Ventures
2,893 people in our graph share verified history with the HG Ventures team — schools, employers, funds. One of them is your warm intro.
Investment thesis
HG Ventures partners with innovative, high-growth companies building a sustainable future across materials, infrastructure, environmental solutions and industrial systems. It looks for opportunities that align with The Heritage Group's operating capabilities, backing businesses from early to growth stage in the US and beyond, and will either lead or follow rounds. The firm leverages The Heritage Group's expertise, assets and relationships — including technical resources like the Heritage Research Group — to help entrepreneurs execute their visions and add real market and technical value to portfolio companies.
Source: firm website, verified Sep 27, 2026.
Team · 12 people
from the firm's website & curated & public directories
What they invest in
from 43 of 52 portfolio companiesCleantech ×23Advanced Manufacturing ×14Climate Tech ×14New Materials ×14Circular Economy ×13Energy ×9AI & Machine Learning ×8SaaS ×8
HQs:United States×31United Kingdom×4Canada×2Germany×2India×1Luxembourg×1
Who they back
founder profiles across 23 portfolio companiesFounding team size:solo founder×92 founders×113 founders×3
Where their founders studiedfrom 25 founders with education data
AngelPad ×2Northwestern University ×2University of Alberta ×2Vanderbilt University ×2
What their founders studiedfrom 27 founders with field-of-study data
Business & Management ×9Engineering ×9Life Sciences ×5Finance & Accounting ×4
Where their founders worked beforefrom 28 founders with career history
90 NORTH ×2University of Calgary ×2
Accelerator rootsportfolio companies that came through a program
3 founders hold a PhD · 5 hold an MBA (of 28 with degree data)
Investments · 52 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 12023 · 62022 · 42021 · 32020 · 32019 · 22014 · 121 dated
120Water builds compliance management software for water utilities and state agencies to help them manage drinking water regulations and protect public health.
Climate TechData & InfrastructureGovTechSaaSZionsville, US
Megan Casey Glover(Founder)in
Co-investorsAllos VenturesEdison PartnersElevate VenturesRevolutionRise of the Rest Seed
6K uses microwave plasma technology (Unimelt) to produce engineered materials, including battery cathode materials and metal powders for additive manufacturing, with an emphasis on sustainable processes.
Advanced ManufacturingCleantechEnergyNew MaterialsNorth Andover, US
Co-investorsEnergy Impact PartnersIn-Q-TelMaterial Impact
Aclarity develops proprietary technology to break down PFAS (per- and polyfluoroalkyl substances) compounds using electricity, offering an alternative to traditional disposal methods that involve landfilling or incineration.
CleantechClimate TechHardware
Michael Shaw(President and Chief Executive Officer)in
Co-investorsBURNT ISLAND VENTURESEcho River CapitalMaroon Venture Partners FundMassVentures
Electrochemical water purifier using patent-pending technology to remove contaminants including PFOA.
Mansfield, US
Julie Bliss Mullen(Executive Officer, Director)Leanne Hersey(Founder)inPamela Lynch(Executive Officer)Orren Schneider(Executive Officer)
BoardJiten Manglani(Director)Tom Ferguson(Director)in
Co-investorsDCVC (Data Collective)Echo River CapitalMassVenturesThe Alchemy FundBURNT ISLAND VENTURES
Ateios develops electrode manufacturing techniques designed to accelerate production speed, reduce carbon emissions, and decrease the physical footprint of battery manufacturing and gigafactories.
Advanced ManufacturingCleantechEnergyMedical DevicesNew MaterialsLa Jolla, US
Terry Taber(CTO)
Co-investorsCarat Venture PartnersCharmides CapitalE8 AngelsElevate VenturesGood Growth CapitalJHH vc+5 more
Avenew provides infrastructure consulting and project management services to community and government leaders, helping them plan, finance, and execute transportation and infrastructure projects.
Construction TechGovTechPropTechFranklin, US
Joe McGuinness(CEO)inTravis Underhill(Chief Operating Officer)in
Bind-X develops biological dust control technology for mining operations, using a natural bio-cementation process to bind soil particles and reduce dust on haul roads, tailings facilities, and stockpiles while significantly lowering water consumption and environmental impact.
BiotechCleantechClimate TechNew MaterialsWestern Australia, DE
Heinz Schwan(Managing Director, Bind-X International GmbH)in
Biosynthetic Technologies develops innovative solutions in R&D and operations for sustainability-focused applications.
Advanced ManufacturingBiotechCircular EconomyCleantechNew MaterialsIrvine, US
Allen Barbieri(Executive Officer, Director)inDr. Matt Kriech(CEO)
BoardBernhard Mohr(Director)Meghan Sharp(Director)Kent Wasson(Director)Steve Bierschenk(Director)
Co-investorsAthosCivilization Ventures Management, LlcGlobal Health Investment CorporationIn-Q-TelSherpalo VenturesViking Global Investors
Bluefield Research is a research and analysis firm that covers water infrastructure investment, policy, and digitalization trends.
CleantechClimate TechData & InfrastructureEnergyImpact & Social GoodSector Agnostic
Circulor provides digital product passport infrastructure and supply chain traceability solutions designed for regulatory compliance with EU sustainability requirements.
Advanced ManufacturingCircular EconomyEnterprise SoftwareSaaS
Giles Palmer(CEO)
Co-investors24 HaymarketAster CapitalFuture Positive CapitalInMotion VenturesRegeneration.VCSystemiq Capital+2 more
David Protein sells canned cod as a convenient, ready-to-eat protein source.
ConsumerDirect to ConsumerFoodTechHealthtechWellness & Fitness
Peter Rahal(Founder & CEO)in
Duality develops simulation software that models complex environmental scenarios and processes real-time sensor and machine data.
AI & Machine LearningDeep TechRoboticsSan Mateo, US
Apurva Shah(Founder)inMichael Taylor(Founder)in
Co-investorsDorm RoomDrive CapitalIntel CapitalHearst VenturesLemnos VCLG Technology Ventures+2 more
Epogee develops EPG, a modified fat ingredient that reduces calorie absorption by around 92% while maintaining the taste and texture of traditional fat.
FoodTechNew Materials
Co-investorsGreenoaksValor Equity Partners
Equispheres designs and produces highly spherical aluminum and copper metal powders for additive manufacturing processes such as Laser Powder Bed Fusion.
Advanced ManufacturingDeep TechHardwareNew Materials
Kevin Nicholds(President, CEO, and Executive Director)in
FREDsense builds biologically-based sensing technology that uses synthetic biology, electrochemistry, and electrical engineering to monitor water quality.
BiotechCleantechClimate TechHardware
Emily Hicks(Founder)inDavid Lloyd(CEO & Co-Founder)inMaggie Renaud-Young(Lead Scientist (Co-Founder))inMelanie McClare(Chief Commercial Officer)inSusan Sutherland(Head of Marketing)in
Co-investorsEmerald Technology Ventures AgForesightFundersClubInnovative Solutions CanadaBDC Capital Corporation
Gauge provides fleet and equipment tracking, utilization, and reporting software for construction and equipment-intensive businesses to optimize asset deployment, reduce rental costs, and improve job site productivity.
Construction TechHardwareIoTLogistics & Supply ChainSaaSIndianapolis, US
Michael Paredes(CEO)in
Hyroad Energy develops hydrogen infrastructure and energy supply solutions for the transportation sector.
CleantechEnergyLogistics & Supply ChainMobility & Transportation
Dmitry Serov(Founder & CEO)
INERATEC produces synthetic fuels and chemicals from CO₂ and renewable hydrogen using microstructure technology, offering e-SAF, e-diesel, and other drop-in ready fuels and chemical products for energy and manufacturing industries.
CleantechClimate TechEnergyNot stated on page, DE
Tim Boeltken(Founder)inPfeifer Peter(Founder)in
Co-investorsEmerald Technology Ventures AgENGIE New VenturesHonda Innovations Silicon ValleyPiva CapitalPlanet A VenturesTDK Ventures+3 more
.jpeg){kind=logo}
Koch is a diversified global holding company with businesses spanning energy, consumer goods, technology, communications, healthcare, and real estate, serving customers and markets across more than 50 countries.
Advanced ManufacturingSector AgnosticWichita, US
Steven J. Feilmeier(Executive Officer, Director)Mark E. Humphrey(Executive Officer)David Koch(Executive Officer, Director)Dale Gibbens(Executive Officer)Joseph W. Moeller(Executive Officer, Director)John C. Pittenger(Executive Officer)
Co-investorsRed Leaf CapitalEnergy Impact PartnersKoch Disruptive TechnologiesMillennium ManagementNational Grid PartnersQatar Investment Authority+1 more
Material Evolution develops low-carbon cement using a proprietary alkali fusion process that operates at ambient temperatures, significantly reducing emissions compared to conventional cement production.
Circular EconomyClimate TechNew MaterialsBelfast, GB
Elizabeth Gilligan(Founder)inSam Clark(Co-founder)in
Co-investorsAt One VenturesKOMPAS VCTechstarsVox CapitalNorrsken VCPlayfair Capital+1 more
Dover, US
Elizabeth Gilligan(Executive Officer, Director)Samuel Clark(Director)Sukhjeevan Sunner(Director)
Co-investorsNorrsken VCAt One VenturesKOMPAS VCSkyRiver Ventures
Material Evolution produces ultra-low carbon cement replacements for concrete manufacturers, ready-mix producers, and construction companies seeking to reduce embodied carbon in their projects.
Circular EconomyCleantechConstruction TechNew Materials
Co-investorsKOMPAS VCNorrsken VCAt One VenturesPlayfair CapitalSkyRiver Ventures
MITO is a platform for video creation and storytelling that combines AI assistance with human creative control, serving filmmakers and content creators.
AI & Machine LearningCreator EconomyMedia & Entertainment
Arantxa Barcia(Founder)in
Co-investorsKfundCortado VenturesDipalo VenturesElevate VenturesKibo VenturesLightspeed Venture Partners+1 more
MITO Material Solutions develops patented hybrid additive technology that enhances fiber-reinforced composites and thermoplastics by functionalizing materials like graphene oxide and biomaterials, serving the manufacturing industry.
Advanced ManufacturingCleantechClimate TechDeep TechNew MaterialsStillwater, US
Haley Marie Keith(Executive Officer, Director)inKevin Keith(Director)Steve Hulme(Director)
BoardMahdi Ghazizadeh(Director)Richard J. Diemer, Jr.(Director)Joel Neale(Director)
Co-investorsCitrine AngelsCortado VenturesDipalo VenturesE8 AngelsElevate VenturesEvergreen Climate Innovations+3 more
Molg develops autonomous microfactories using advanced robotics to disassemble electronics and recover valuable components for reuse and remanufacturing, addressing e-waste through circular manufacturing practices.
Advanced ManufacturingAI & Machine LearningCircular EconomyClimate TechHardwareRoboticsWashington, US
Mark Lyons(Executive Officer, Director)inRobert Lawson-Shanks(Executive Officer, Director)Alyssa Bryan(Director)
Co-investorsEarthshot VenturesTechFoundersTechstarsClosed Loop PartnersPlug and Play Ventures
OnStation provides digital stationing software for road construction crews, replacing physical survey stakes and paper field logs with location and documentation tools accessible on mobile devices.
AI & Machine LearningConstruction TechSaaSCleveland, US
Co-investorsJobsOhio VenturesJumpstart VenturesTechstars
P2 Science develops green chemistry platform technologies (including its PIOz ozonolysis and PICE polymerization processes) that convert renewable, plant-based oils into functional intermediates, specialty ingredients, and polymers.
BiotechCircular EconomyCleantechNew MaterialsWoodbridge, US
Paul Anastas(Co-founder)Patrick Foley(Co-founder & President)inNeil A. Burns(Executive Officer, Director)Oihana Elizalde(Chief Executive Officer)inBrian Chan(Chief Financial Officer)inKevin Gallagher(Director)
Co-investorsXeraya CapitalCircular Innovation FundConnecticut InnovationsElm Street VenturesEmerald Technology Ventures AgSafer Made+2 more
PinPoint Analytics provides data science and analytics solutions for public works construction bidding and project estimation, helping contractors and municipalities replace traditional gut-driven processes with data-informed decisions.
AI & Machine LearningConstruction TechData & Infrastructure
Jim(Co-founder)MarkJeff
Co-investorsMetaPropMetaProp Ventures
ElectraMet builds electrochemical wastewater treatment systems for metal recovery, oxidant abatement, and acid reuse, serving industrial customers in sectors such as mining and microelectronics.
Circular EconomyCleantechNew MaterialsLexington, US
CAMERON LIPPERT(Executive Officer, Director)inKeith Jacobs(Executive Officer, Director)inJames Landon(Executive Officer, Director)inANDERS HALLSBY(Director)
BoardChristopher Young(Director)Ginger Rothrock(Director)in
Co-investorsBluegrass Angel VentureCarnrite VenturesEvergreen Climate InnovationsKeyhorse Capital
Pretred manufactures products from waste tires and plastics with a focus on environmental sustainability.
Advanced ManufacturingCircular EconomyCleantechEnergyAurora, US
Eric Davis(CEO)inRob Volkert(COO)inMichelle E. Davis(Executive Officer)Michael D. Corrigan(Executive Officer)Brad O'Neil(Director)
BoardGinger Rothrock(Director)in
Co-investorsTechstarsDenver Ventures
Puraffinity specializes in PFAS science, water treatment, and commercialization of related technologies.
CleantechClimate TechNew MaterialsLondon, GB
Vincent Caillaud(CEO)in
Co-investorsExtantia CapitalKindred CapitalOctopus VenturesUniversal Materials IncubatorVerve VenturesAcequia Capital (AceCap)
.jpeg){kind=logo}
R3 Robotics builds automated systems for disassembling and dismantling electric vehicle batteries and complete EV systems, including e-drives and power electronics, at industrial scale.
Circular EconomyCleantechRoboticsLuxembourg, LU
Antoine Welter(Founder)in
Co-investorsBONVENTUREEuropean Innovation Council Fund
ReNew develops and operates renewable energy projects across India, holding one of the country's largest portfolios of clean energy assets.
CleantechClimate TechEnergy
Sumant Sinha(Founder)inVaishali Nigam Sinha(Founder)
Co-investorsGlobal Environment Fund ManagementGoldcrest CapitalHaymaker VenturesMolten VenturesUpfront VenturesWalkabout Ventures Llc
.jpeg){kind=logo}
Renewal Mill is a food and ingredients company that makes six upcycled ingredients across protein, flour, and fiber, along with baking mixes, by repurposing byproducts from food production such as juice pulp.
Circular EconomyClimate TechConsumerFoodTechOakland, US
Claire Schlemme(Executive Officer, Director)inCaroline Cotto(Cofounder)in
Co-investorsBread And Butter Ventures, LlcECP GrowthPurple Sage VenturesTechstarsICA Fund
Simpli operates a platform that enables enterprises to redirect excess inventory and unsold products to nonprofits and charities instead of destroying them.
Circular EconomyEnterprise SoftwareImpact & Social GoodSaaS
Teddy Raskin(Founder)inTommy Pennington(Founder)in
Co-investorsUniversity System of Maryland Momentum FundCultivate Next
Simplify manufactures fabric and soft goods using proprietary bio-based materials and additive manufacturing techniques that eliminate traditional spinning, weaving, cutting, and sewing processes.
Advanced ManufacturingCircular EconomyCleantechClimate TechNew MaterialsNew York City, US
Maria Intscher-Owrang(Founder & CEO)inPhilip Cohen(Founder)in
Co-investorsAt One VenturesCollateral GoodHelmJetstreamJuniperREFASHIOND Ventures+5 more
.jpeg){kind=logo}
SOLARCYCLE provides recycling services for solar farm components including solar panels, inverters, transformers, cables, and other power electronics, diverting waste from landfills and recovering metals such as silver, copper, gold, and lead.
Circular EconomyCleantechEnergyMesa, US
Suvi Sharma(Co-founder)inJesse Simons(Co-founder)inPablo Ribeiro Dias(Co-founder)Theodore Herhold(Executive Officer)inPablo Diaz(Executive Officer, Director)
Co-investorsATEL VenturesUrban InnovationVery Serious VenturesClosed Loop PartnersFifth WallPrologis Ventures
Titan is an energy storage technology company developing R&D-driven solutions aimed at changing patterns of energy storage and use.
Advanced ManufacturingAI & Machine LearningCleantechDeep TechEnergySalem, US
Co-investorsSE Ventures
Transcend builds cloud-based SaaS software that automates the preliminary engineering design of critical infrastructure assets such as water and wastewater facilities and electrical substations.
CleantechConstruction TechDeep TechSaaSPrinceton Junction, US
Adam Tank(Co-Founder)inAri Raivetz(Founder & Chief Executive Officer)inAntony Rhine(Chief Operating Officer)inChad Sands(Chief Financial Officer)in
BoardKip Frey(Director)inJulia Sohajda(Director)
Co-investorsChartline Capital PartnersGamma Capital PartnersPureTerra VenturesNational Grid Partners
Valerann provides real-time traffic intelligence software that integrates multiple data sources for road authorities to detect incidents faster, manage traffic flow more effectively, and optimize network operations.
AI & Machine LearningData & InfrastructureGovTechMobility & TransportationSaaS
Ran Katzirin
Advanced ManufacturingCleantechGolden, US
Andrew Maxey(Executive Officer, Director)inAaron Parker(Executive Officer)inDaniel Flagg(Executive Officer)inSean Kline(Executive Officer)inShari Kennett(Director)J. Scott Pusey(Executive Officer)
Co-investorsAutodesk FoundationBelle Impact FundBeyond CapitalCircular Innovation FundDiamond Edge VenturesE8 Angels+8 more
Voxel offers an industrial intelligence platform that applies AI computer vision to existing IP camera infrastructure to detect safety and operational risks—such as ergonomics, PPE, vehicles, and equipment issues—and turn them into assigned, trackable actions.
Advanced ManufacturingAI & Machine LearningEnterprise SoftwareSan Francisco, US
Tilia Gode(Founder)inTroy Carlson(Founder)in
Co-investorsJude GomilaMTECH CAPITAL
Waggle makes an AI platform that joins team meetings to give managers real-time feedback and flag behaviors that could hurt team performance.
EdTechHR TechLondon, GB
Co-investorsTechstarsBasics CapitalBixin VenturesLowercase CapitalMEXCSVC
Wildnote provides an environmental consulting platform that automates manual compliance processes for environmental professionals including scientists, consultants, and regulators.
AgTechClimate TechEnterprise SoftwareGovTechSaaSSan Luis Obispo, US
Kristen Hazard(Founder and CEO)in
Co-investorsEntrada VenturesTechstars
ZwitterCo develops zwitterionic anti-fouling membranes that resist organic fouling for filtration of industrial wastewater and process streams.
Advanced ManufacturingCleantechNew MaterialsCambridge, US
Alex Rappaport(Co-Founder & CEO)in
BoardStephen Remondi(Director)
Co-investorsBantam GroupBURNT ISLAND VENTURESDCVC (Data Collective)Genoa VenturesWhite Shark VenturesMunich Re Ventures
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
CurrentsLorisRomeo Power TechnologyRomeo SystemsStratos TechnologiesTitan Advanced Energy Solutions
Portfolio news
latest coverage across their companies120Water · 120water.com · Feb 24, 2026
Frequently asked questions
- How many investments has HG Ventures made?
- HG Ventures has 52 tracked investments, 1 of which have exited, including 2 dated in the last 24 months.
- What stage does HG Ventures invest at?
- HG Ventures invests at the Pre-Seed, Seed, Series A, Series B, Series C, Growth stages.
- What is HG Ventures's typical check size?
- HG Ventures typically writes checks of $1M – $10M.
- What sectors does HG Ventures focus on?
- HG Ventures focuses on Advanced Manufacturing, Circular Economy, Cleantech, Climate Tech, Construction Tech, Logistics & Supply Chain, New Materials.
- Where is HG Ventures located?
- HG Ventures is headquartered in Indianapolis, US.
- Does HG Ventures lead rounds?
- Yes, HG Ventures leads investment rounds.
- Who does HG Ventures co-invest with?
- HG Ventures most often shares deals with Techstars, Elevate Ventures, Emerald Technology Ventures Ag, among 89 tracked co-investors.
Media · Podcasts & interviews
featuring the teamInvesting in a Circular Future: Insights from HG Ventures’ Ginger Rothrock
Trellis Group · Ginger Rothrock
The TOP Mistakes Founders Make When Pitching Investors with John Glushik of HG Ventures
Alexander McCobin · John Glushik
#91 Ginger Rothrock (HG Ventures) - Sustainable Corporate Venture Capital for Heavy Industries
The Wall Street Lab · Ginger Rothrock
Ginger Rothrock of HG Ventures // corporate venture capital investing in heavy construction and m...
upside podcast · Ginger Rothrock
Images
Co-investors · 1
Entrepreneur First (EF) is a talent investor that helps individuals build and launch startups, providing support such as US visa guidance, office space, fundraising preparation, and investor introductions culminating in a San Francisco Demo Day.
Firms observed investing alongside HG Ventures, from public investor directories. Shared companies are the overlap with HG Ventures's recorded portfolio.
Similar investors
Munich Venture Partners (MVP) is a European venture capital firm investing in technology companies driving the eco-industrial revolution across emission-intensive sectors.
Future Energy Ventures (FEV) is a venture capital firm investing in founders building the future energy system through electrification, software, and digital infrastructure.
Climate Investment (CI) is an independent investment organization founded by members of the Oil and Gas Climate Initiative (OGCI), providing venture to growth equity capital to climate-focused technology companies aimed at decarbonizing high-emission sectors.
Almi Invest is a Swedish state-owned venture capital company that invests in early-stage startups and growth companies with scalable business models, operating through regional funds and a national GreenTech Fund.
The Autodesk Foundation is the philanthropic arm of Autodesk, providing grants and impact investments to nonprofits and early-stage startups working on climate and workforce solutions, alongside technical training and design software support.